Monthly Archives: July 2012

Foreclosure Friday

From the Star Ledger: Foreclosures drop in New Jersey The number of New Jersey homes in foreclosure dropped in the first six months of the year, according to a report from RealtyTrac, from 18,417 last June to 10,733 this year, … Continue reading

Posted in Economics, Foreclosures, Housing Recovery | 180 Comments

44 Economists Agree: Housing is Bottoming

From the WSJ: Housing Passes a Milestone The housing market has turned—at last. The U.S. finally has moved beyond attention-grabbing predictions from housing “experts” that housing is bottoming. The numbers are now convincing. Nearly seven years after the housing bubble … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 158 Comments

Just pull the damn band-aid off already

From CNBC: As Foreclosures Ramp Up, New Roadblocks Ahead Fraudulent foreclosure practices, a.k.a. “robo-signing,” uncovered now nearly two years ago, opened a new wound in the foreclosure crisis that was in the process of healing. At big bank mortgage servicers … Continue reading

Posted in Foreclosures, Housing Recovery | 202 Comments

North Jersey Contracts – June 2012

(Source GSMLS, except Bergen which is NJMLS) Pending Home Sales (Contracts) ——————————- Bergen County June 2011 – 747 June 2012 – 871 (Up 16.6% YOY) Essex County June 2011 – 340 June 2012 – 438 (Up 28.8% YOY) Hunterdon County … Continue reading

Posted in Economics, Housing Recovery, North Jersey Real Estate | 241 Comments

Something to do while you sit around in the AC Open Discussion

From the Movoto Blog: Real World Monopoly: Marvin Gardens is the New Boardwalk We were both renters and landlords, we fought over who could be the ‘car’ and we hid stashes of $100s under the board. Monopoly took hold on … Continue reading

Posted in Humor | 48 Comments

Jobs Day Open Discussion

From the NYT: Jobs Report Preview The Labor Department releases its report on June job growth on Friday, and economists are crossing their fingers for some good news. “Good news” is a relative term, of course. In May, the nation’s … Continue reading

Posted in Economics, Employment | 138 Comments

How much further can rents rise?

From Reuters: US apartment rents rise at highest rate since ’07 -Reis Renting an apartment in the U.S. became even more expensive during the second quarter, as vacancies set a new 10-year low and rents rose at a pace not … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 73 Comments

Trulia: Rents rising faster than prices

From CNN/Money: Rents keep rising, while home prices inch higher As if record low mortgage rates and beaten down home prices weren’t enough to get prospective home buyers off the fence, there’s another factor that has made the case for … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 30 Comments

CoreLogic HPI shows broad price gains in May

From CoreLogic: CoreLogic® Home Price Index Shows 1.8% Monthly Increase in May from April The CoreLogic Home Price Index (HPI) showed that home prices nationwide, including distressed sales, increased on a year-over-year basis by 2.0 percent in May 2012 compared … Continue reading

Posted in Economics, Housing Recovery | 155 Comments

Housing Affordability back to year 2000 levels in Bergen (including taxes)

From the Record: Home prices coming down to earth in Bergen County, could signal market turnaround With typical prices below $400,000, and mortgage rates south of 4 percent, homes in Bergen County in 2011 reached their most affordable levels in … Continue reading

Posted in Economics, Housing Recovery | 123 Comments